Langham Estate

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Langham Estate
Private limited company by shares
IndustryReal estate management
Founded9 December 1993
Headquarters
London
,
UK
Area served
13.8 acres
Key people
Ahsan Ellahi
OwnerSamuel Tak Lee
ParentMount Eden Land Limited (Guernsey)
Websitewww.langhamestate.com

The Langham Estate is a property estate in Fitzrovia, London, and is owned by the Mount Eden Land Limited (Guernsey). The company controls 14 acres of real estate in central London.

Background[edit]

Great Portland Street as seen in the early 1900s

The Langham Estate originates from an entity first established in 1925 to manage a holding of 40 acres of land purchased from the Howard de Walden Estate in central London.[1][2][3] The properties, acquired for £3m and located in eastern Marylebone,[1][4] then passed through various owners, including Sir John Ellerman's Audley Trust, before being acquired in 1994 by Guernsey-based Mount Eden Land Ltd for £51m.[1][5][6][7] Under Sir John Ellerman, the holdings covered almost all Great Portland Street, and much of streets alongside it (including Hallam, Bolsover, Margaret and Great Titchfield Streets).[1][8][9] Numerous holdings on Great Portland Street were divested over the years.

The Langham Estate operates in an area noted for its media connections, restaurants, design showrooms and art galleries.[10] The Langham Estate was described in 2017 as being one of London's 16 Great Estates with its footprint of 13.8 acres of central London property.[11][12] Many of the entity's original properties are still held—but now in the form of freehold as their long leases have been sold off.[1]

Samuel Tak Lee of Hong Kong is said to be its owner.[5][13][14][15] Mr Lee has long sought control of Shaftesbury PLC's neighbouring 15 acre estate.[16][17][18][19]


Recent Developments[edit]

Great Portland Street is long known for its shops and restaurants

The Fitzrovia real estate market, where Langham Estate's properties are located, has been undergoing a renewal.[20] The area has witnessed significant increase in rents and rates along with markedly higher occupant turnovers.[21][22] Property values have increased in part due to changes in planning constraints,[23] along with the impact of the Cross Rail and Oxford Street projects which were projected to increase commercial activity in the area.[24][25][26]

The company markets some of its properties under the banners of Noho and/or FitzNovia to describe an area just north of Oxford Streetand just west of Regent Street.[27][28] The company website states the company holds a "1.3 million sq feet (29 acre) mixed portfolio of office, showroom, retail, restaurant, bar, residential and storage" properties.[29][5]

A neighbourhood plan is being developed for Langham Estate's Fitzrovia area. This is being done in consultation with stakeholders, the Langham Estate and other local landlords, businesses and residents.[30][31] The plan focused on improving the local amenity, affordable housing provision, poor broadband data services and air pollution conditions.[32][33][34]

Gallery[edit]

References[edit]

  1. ^ a b c d e Philip Temple and Colin Thom (2017). "South-East Marylebone: Draft of Volumes 51 and 52" (PDF). Survey of London: South-East Marylebone Volumes 51 and 52. Yale University Press. ISBN 9780300221978.
  2. ^ "Offices To Let, West End, Offices to Rent, Langham Estate, London". Langham Estate. Archived from the original on 2018-08-15. Retrieved 2018-10-17.
  3. ^ The Howard de Walden Estate is said to have sold 40 acres in East Marylebone in anticipation of high death duty obligations.
  4. ^ The 1925 land acquisition price of £3m is roughly equivalent to £177m in 2018. Source: http://www.in2013dollars.com/1925-GBP-in-2018?amount=3000000 (“Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 26 Oct. 2018, http://www.officialdata.org/.)
  5. ^ a b c "Who owns central London?". Who owns England?. 2017-10-28. Archived from the original on 2018-06-17. Retrieved 2018-10-15.
  6. ^ "History of The Langham Estate". Langham Estate. Retrieved 2018-10-15.
  7. ^ HEATHER CONNON (13 December 1993). "Prime portfolio of London property fetches just pounds 51m: Li family buys Langham Estate from Grovewood receivers". The Independent. Retrieved 2018-10-16.
  8. ^ "The secretive billionaire". 2009-08-20. Archived from the original on 2016-03-24. Retrieved 2018-10-16.
  9. ^ Jenkins, Simon (2012). Landlords to London: The Story of a Capital and Its Growth. Faber & Faber. p. 202. ISBN 978-0-571-29476-3.
  10. ^ "About Fitzrovia London". Fitzrovia Neighbourhood Association. 2012-04-02. Archived from the original on 2018-07-04. Retrieved 2018-10-17.
  11. ^ Fraser, Isabelle (2017-10-28). "How a handful of historic firms still own swathes of central London". The Telegraph. ISSN 0307-1235. Archived from the original on 2018-01-21. Retrieved 2018-10-15.
  12. ^ Kevin Cahill (2002). Who Owns Britain. Canongate Books Ltd. ISBN 9781841953106.
  13. ^ Judith Evans (May 23, 2017). "Shaftesbury profits jump, supported by robust West End shopping". Financial Times.
  14. ^ "Revealed Samuel Tak Lee: the secretive tycoon who controls a huge swathe of the West End". Evening Standard. 13 June 2003. p. 19. Archived from the original on 2017-07-14.
  15. ^ Shah, Oliver (2014-11-16). "Hong Kong tycoon sets sights on Chinatown". The Sunday Times. ISSN 0956-1382. Retrieved 2018-10-15.
  16. ^ "Tak Lee boosts Shaftesbury stake". EGi. Retrieved 2018-12-10.
  17. ^ "Lee Family Investors" Tender Offer – Shaftesbury PLC – Company Announcement - FT.com". markets.ft.com. Retrieved 2018-12-10.
  18. ^ Crosland, Jonas (2017-07-20). "Shaftesbury looking Brexit-proof". www.investorschronicle.co.uk. Retrieved 2018-12-10.
  19. ^ "Time for 'Man of Mystery' Shaftesbury shareholder to put up or shut up". Evening Standard. 2019-01-29. Retrieved 2019-04-24.
  20. ^ Nathan Brooker (May 29, 2015). "Is London's Fitzrovia ready for the big prime?". Financial Times. Archived from the original on 2018-06-22. Retrieved 2018-10-15.
  21. ^ Ramsorrun, Helen. "How Fitzrovia Became a Key Area for Commercial Property Investment". Pearl & Coutts. Retrieved 2018-10-15.
  22. ^ "Villandry goes into administration amid reports of £1.5m losses". www.thedrinksbusiness.com. Archived from the original on 2018-08-10. Retrieved 2018-10-25.
  23. ^ City of Westminster (November 2015). "Supporting Information Publication Draft (Regulation 19) Special Policy Areas and Policies Map Revision" (PDF).
  24. ^ "JLL | Residential Research | Crossrail Opportunities 2016". residential.jll.co.uk. Archived from the original on 2017-10-21. Retrieved 2018-10-17.
  25. ^ Savills.com (18 April 2018). "Infrastructure Investment and Land Value Uplift". Retrieved 2018-10-17.
  26. ^ "A FUTURE FOR THE OXFORD STREET DISTRICT". www.oxfordstreetdistrict.com. Archived from the original on 2018-03-23. Retrieved 2018-10-25.
  27. ^ "MyNoHo – The Langham Estate Blog". MyNoHo. Archived from the original on 2018-09-02. Retrieved 2018-10-15.
  28. ^ "FitzNovia Twitter Feed". twitter.com. Retrieved 2018-10-15.
  29. ^ "Commercial lettings : Serviced Office Space for Rent : London West End". Langham Estate. Archived from the original on 2018-09-06. Retrieved 2018-10-15.
  30. ^ "Draft Plan | FitzWest". fitzwest.org. Archived from the original on 2018-09-02. Retrieved 2018-10-15.
  31. ^ www.FITZWEST.ORG/wordpress. "FitzWest Plan -- Fitzrovia West Neighbourhood Forum" (PDF).
  32. ^ "FitzWest Plan: Fitzrovia West Neighbourhood Forum" (PDF). fitzwest.org. Retrieved 2019-01-01.
  33. ^ "Better Oxford Street Campaign - Pedestrianising Oxford Street is not the answer". Better Oxford Street Campaign. Retrieved 2019-01-01.
  34. ^ "Broadband in Fitzrovia | FitzWest". Retrieved 2019-01-01.

External links[edit]

Coordinates: 51°31′01″N 0°08′22″W / 51.5170782°N 0.139501°W / 51.5170782; -0.139501